July 1, 2014 / 7:45 AM / 4 years ago

Optimal Payments to buy two US online payments firms for $225 mln

July 1 (Reuters) - Online money transfer company Optimal Payments Plc said it would buy two U.S.-based online payments firms for $225 million to expand its operations in North America, sending its shares up 8.6 percent.

Optimal said it would buy California-based TK Global Partners LP for $210 million, with $150 million in cash and $60 million worth of shares.

Optimal also said it would pay up to $15 million in cash to acquire Global Merchant Advisors Inc, a Los Angeles-based company.

“Both businesses are U.S. based, a major focus for Optimal given the opening up of that market for their existing businesses, and are across a range of verticals,” Barclays analysts said in a note.

Both acquisitions are expected to close in the third quarter.

TK Global is doing business as Meritus Payment Solutions.

Shares in Optimal Payments were up 8.6 percent at 434.50 pence in early trading, making the stock one of the top percentage gainers on the London Stock Exchange. (Reporting by Aastha Agnihotri in Bangalore; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below